Paths to Wealth Through Common Stocks

PHILIP A. FISHER (1907–2004) began his career as a securities analyst in 1928 and founded Fisher & Company, an investment counseling business, in 1931. He is known as one of the pioneers of modern investment theory. After writing this book, Fisher taught at Stanford as one of only three to ever teach the Graduate School of Business Investment Management course. His other writings include investment classics such as Common Stocks and Uncommon Profits, Conservative Investors Sleep Well, and Developing an Investment Philosophy. KEN FISHER is the Founder, Executive Chairman, and Co-Chief Investment Officer of Fisher Investments, a $387-plus billion (as of 3/31/2026) investment adviser and money management firm serving large institutions and high-net-worth individuals. For over 32 years, Fisher wrote Forbes' "Portfolio Strategy" column, making him the longest continuously running columnist in the magazine's venerable history. He now writes monthly, native-language columns in over 25 major media organs worldwide, including the New York Post, Britain's Daily Telegraph, Spain's elEconomista and Italy's Il Sole 24 Ore. In total, his columns span more countries and more languages in more total reach than any other, non-syndicated columnist of any type ever.

• Foreword ixPreface: The Need for Additional Investment Books xixPart I: Adjusting to Key Influences of the 1960’s 1Stocks and Inflation; Institutional Buying; Foreign Competition; Increased Population; The Economists Go Out—The Psychologists Come InPart II: How the Greatest Increases in Stock Values Come About 70Alert Corporate Management; A New Concept; The Role of Institutional Buying; A Reward Usually OverlookedPart III: You and Where Your Investment Business Must Go 91Methods of Investment Evaluation; Five Steps for Selecting the Right Investment CounselorPart IV: Trivia but not Entirely 122What About Mergers?; Voting Rights and Proxy Fights; Should You Buy or Sell Stocks Because of U.S. Election Prospects?Part V: Major Growth Industries of the 1960’s 149The Chemical Industry; The Electronics Industry; The Pharmaceutical Industry; Other Interesting Industries; The False Growth Stocks of the Immediate Post-War YearsIndex 205